City’s revaluation impacts property taxes
By Gene Kemmeter
City of Stevens Point property owners are realizing the significance of a revaluation of property conducted earlier this year because of soaring prices for property.
Property tax bills began arriving the week of Dec. 10, and some property owners found their taxes had increased, while others found theirs decreased.
Stevens Point Comptroller/Treasurer Corey Ladick said the Treasurer’s Office is getting some phone calls about the increase in some taxes now that people have received their tax bills, often in older homes. In some instances, people have seen $600, $700 and even $1,000 increases in taxes, he said.
“It’s a big adjustment,” Ladick said. “There’s not a lot you can say about it, based on where you were before.
“The revaluation hasn’t been done in some time,” he said. “There are some significant shifts in value because properties haven’t been adjusted in some time. There’s a lot of misunderstanding. People made improvements, and their values should go up. We have to match what the property would sell for.”
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